Davos Economic Forum draws powerful and skeptical

23 Jan 2013

Marketplace World quote Philip Booth

Big-hitters from the worlds of politics and business have been gathering in the Swiss ski resort of Davos for the annual World Economic Forum. Global leaders like Angela Merkel of Germany and Britain’s David Cameron will mingle with central bankers, regulators and entrepreneurs. They'll spend up to four days gabbing, networking and putting the world to rights. The avowed aim is “to improve the state of the world.”

Professor Philip Booth of the free market Institute of Economic Affairs is scathing about Davos. He calls it: “an opportunity for grandstanding by politicians and the leaders of big business.” Booth claims that the forum does not even serve as a pointer to the year ahead; it failed to spot the problems that led to last financial crisis.

But isn’t this just sour grapes? None of the skeptics has been to Davos. None of them has been invited.